Interim Report January-March 2013Breakfast presentation April 25

24 April 2013, page 2

Development outside Europe continued to be strong during the quarter Net sales +17 % in Asia US Hamilton Safe delivering as expected Brazil is showing good profitable growth

Sales outside Europe: 39% end Q1

Europe continued slow development on most markets Markets characterised by uncertainty, impacting

investment decisions Northern Europe: More stable Southern Europe: Continues to be weak

Focus: Reduce fixed costs in Europe and continue to invest in growth on markets outside of Europe

Expenses of a non-recurring nature Q1: MSEK 10

CEO Comments

24 April 2013, page 3

Moving the Point of Gravity

10% of sales outside Europe 2005

39% Q1 2013

Americas, 16% Canada, US, Brazil, Mexico

Asia Pacific, 18% China, India, Indonesia, Vietnam,

Malaysia, Singapore, Australia

Africa & Middle East, 5% South Africa, UAE

Americas: 16%

EMEA: 66%

Asia-Pacific: 18%

24 April 2013, page 4

First Quarter 2013

Order intake amounted to MSEK 1,499 (1,595), organically it decreased by 7%. Acquired units contributed MSEK 95.

Net sales amounted to MSEK 1,155 (1,169), organically they decreased by 3%. Acquired units contributed MSEK 84.

Operating profit amounted to MSEK 1 (10) and the operating margin to 0.1% (0.8%). Acquired units had a positive effect on operating profit of MSEK 10.

Operating profit excluding expenses of a non-recurring nature of MSEK -10 (-4) amounted to MSEK 11 (14) and the operating margin to 0.9% (1.2%).

Profit/loss after tax for the quarter totalled MSEK -12 (-3).

Earnings per share were SEK -0.16 (-0.04).

24 April 2013, page 5

Market Development Continued good growth in Asia Good development in Americas Weak development in Europe

Profit analysisStrong profit development in the Asia-Pacific and Americas regions has not compensated for weak development in Europe.

% of Group sales: 45%

Business Area Bank Security & Cash HandlingFull year

MSEK 2013 2012 2012

Order intake 580 632 2,374

Net sales 516 494 2,386

Operating profit/loss excl. non-recurring items 1 13 158

Operating margin excl. non-recurring items, % 0.2 2.6 6.6

Non-recurring items -7 - -13

Operating profit/loss -6 13 145

Jan-March

24 April 2013, page 6

Market Development Good development in Asia Weaker development in Europe Strong order intake from global manufacturers

of ATM’s

Profit analysisThe improved operating profit can be explained by a decrease in fixed costs.

% of Group sales: 16%

Business Area Secure StorageFull year

MSEK 2013 2012 2012

Order intake 190 196 801

Net sales 179 178 781

Operating profit/loss excl. non-recurring items 7 2 30

Operating margin excl. non-recurring items, % 3.9 1.1 3.8

Non-recurring items -1 - -11

Operating profit/loss 6 2 19

Jan-March

24 April 2013, page 7

Market Development Mixed development in Europe Weaker development in France and

Central Europe Good start of the year in Americas

Profit analysisOperating profit and margin showed stable development, despite a weak market in parts of Europe.

% of Group sales: 23%

Business Area Global ServicesFull year

MSEK 2013 2012 2012

Order intake 477 511 1,138

Net sales 268 287 1,143

Operating profit/loss excl. non-recurring items 22 22 110

Operating margin excl. non-recurring items, % 8.2 7.7 9.6

Non-recurring items -1 - -9

Operating profit/loss 21 22 101

Jan-March

24 April 2013, page 8

Market Development Strong order intake from China and the US Weak start of the year in Europe

Profit analysisOperating profit and operating margin were in line with last year.

% of Group sales: 11%

Business Area Entrance ControlFull year

MSEK 2013 2012 2012

Order intake 161 158 674

Net sales 131 147 663

Operating profit/loss excl. non-recurring items 0 0 47

Operating margin excl. non-recurring items, % 0.0 0.0 7.1

Non-recurring items -1 - -33

Operating profit/loss -1 0 14

Jan-March

24 April 2013, page 9

Melbourne Metro

Customer NameAffiliated Computer Services (ACS), a Xerox company

End-User Transport Ticketing Authority Melbourne

Site Melbourne

Reference Country Australia

Segment Metro

Product Category Mass Transit Gates

Products to be Installed1. 50 Bi-Parting Gate Cabinets (42 lanes)2. 48 Bi-Parting Gate Cabinets (40 lanes)

Year of Installation 2013

Routes to Market AFC – Automatic Fare Collector

Project Value1. 690K€2. 650K€

24 April 2013, page 10

SafePay Retail sector in Europe is characterised by caution

in investment Despite this, net sales first quarter in line with last

year. With lower costs and a good quality on new systems we see an improvement in the results for the first quarter.

Gateway Slower market for electronic article surveillance

in retail sector.

With temporary increased costs during the quarter, we see a slightly lower level of profitability for the business.

% of Group sales: 5%

Developing BusinessesFull year

MSEK 2013 2012 2012

Order intake 91 98 263

Net sales 61 63 263

Operating profit/loss excl. non-recurring items -10 -13 -42

Operating margin excl. non-recurring items, % -16.4 -20.6 -16.0

Non-recurring items 0 - -1

Operating profit/loss -10 -13 -43

Jan-March

SAFEPAYFull year

MSEK 2013 2012 2012

Order intake 70 77 169

Net sales 40 41 167Operating profit/loss excl. non-recurring items -7 -12 -35Operating margin excl. non-recurring items, % -17.5 -29.3 -21.0

Non-recurring items 0 - -1

Operating profit/loss -7 -12 -36

Jan-March

24 April 2013, page 11

REGION EMEAMorten Andreasen

SVP EMEA

24 april 2013, page 12

EMEA: 2011 in brief

Mature markets

Growth markets

Net Sales 3,284 MSEK

EBIT 102 MSEK

EBIT margin 3.1%

Total Employees 2,117

EMEA: 2012 in Brief

24 April 2013, page 13

First Quarter 2013: Market Trends EMEA

Nordic

Central Europe

UK/Ireland

France

Southern Europe

Eastern Europe

Africa

Middle East

Gunnebo Q1 General market trend Q1

24 April 2013, page 14

Major External Reasons For Decreasing Topline in WEU

Recession on the European market in 2012 with negative real GDP growth rate*: -0.3 % in 27 European Countries (from 2.1% in 2010 and 1.5% in 2011) -0.6% in 17 countries in eurozone (from 2% in 2010 and 1.4% in 2011)

Uncertainty in the capital market puts pressure on the overall economic climate and slows down investments

Some of our prioritised markets segments (e.g. banks) are declining. “Further cost-cutting measures, restricted lending and consolidation pressures will define an even more cautious banking industry in 2013”**

‘Commoditisation’ of our products puts pressure on prices

* Source: EuroStat

** Source: Ernst & Young – European Banking Barometer

24 April 2013, page 15

Major Actions and Opportunities to Develop Profitability

Reduce fixed costs to lower break-even point

Focused execution of restructuring program in low performing markets

Develop profitable long-term relationships with our key customers through Key Account Management program

Focused sales to our prioritised market segments

Further develop our indirect sales channel through Channel Management program

Seize opportunities on growth markets by establishing presence in high growth countries

24 April 2013, page 16

Example: Restructuring in Spain 2012

Background:Negative development of the Spanish security market for the past 5-6 years.

Action: New management, revitalisation of the business model, reorganisation and reduction of employees with 30% -today 238 employees.

“By changing the business model of our Spanish operation, we have managed to adapt costs to prevailing market conditions. We have created a sales company that can compete for business opportunities, even where the market situation remains difficult.”

24 April 2013, page 17

FINANCIALSChristian Johansson

CFO

24 April 2013, page 18

Full year

MSEK 2013 2012 2012

Net sales 1,155 1,169 5,236

Cost of goods sold -827 -825 -3,666

Gross profit 328 344 1,570

Other operating costs, net -327 -334 -1,391

Operating profit/loss 1 10 179

Net financial items -9 -4 -66

Profit/loss after financial items -8 6 113

Taxes -4 -9 -89

Profit/loss for the period -12 -3 24

Whereof attributable to:

Parent company shareholders -12 -3 19

Non-controlling interests 0 0 5

-12 -3 24

Earnings per share before dilution, SEK -0.16 -0.04 0.26

Earnings per share after dilution, SEK -0.16 -0.04 0.26

Summary Group income statement Jan-March

24 April 2013, page 19

31 Dec 1 Jan

MSEK 2013 2012 2012 2012

Goodwill 1,294 1,091 1,320 1,104

Other intangible assets 178 107 182 111

Property, plant and equipment 321 314 327 316

Financial assets 57 125 60 139

Deferred tax assets 265 282 263 278

Inventories 607 619 580 564

Current receivables 1,111 1,140 1,201 1,239

Liquid funds 306 202 350 239

Total assets 4,139 3,880 4,283 3,990

Equity 1,509 1,652 1,533 1,670

Long-term liabilities 1,156 852 1,428 931

Current liabilities 1,474 1,376 1,322 1,389

Total equity and liabilities 4,139 3,880 4,283 3,990

Summary group balance sheet 31 March

24 April 2013, page 20

Operating Cash Flow

4 quarters aggregated

M SEK

137

185

1 2 3 4 1 2 3 4 1

2011 2012 2013

24 April 2013, page 21

Loan Frame: March 2013

The Group’s credit framework amounted to MSEK 1,722 on March 31, 2013

Utilised on March 31, 2013: MSEK 1,059

0

200

400

600

800

1000

1200

1400

2013 2014 2015

MSEK

Maturity (year)

Loan Frame and Drawn 

Unutilized

Utilized

24 April 2013, page 22

Group Liquid Funds and Financial Position

The Group’s liquid funds at the end of the period amounted to MSEK 306 (350 at the beginning of the year).

Equity totalled MSEK 1,509 (1,533 at the beginning of the year), giving an equity ratio of 36% (36 at the beginning of the year).

Net debt amounted to MSEK 1,055 (1,026 at the beginning of the year). Excluding pension commitments it amounted to MSEK 706 (684 at the beginning of the year).

Debt/equity ratio amounted to 0.7 (0.7 at the beginning of the year).

24 April 2013, page 23

IN FOCUS 2013

24 April 2013, page 24

Phase 5: Delivery

Cost ReductionsRationalisations, LCM

Business Development

Acquisitions

Market-DrivenProduct Development

2009 EBIT Margin

3%

Focused Business

GeographicalExpansion

2014 EBIT Margin

> 7%

24 April 2013, page 25

Gunnebo Core Business?

Banks

CIT - Cash In Transit -

Retail

> 5,300 cash centers

> 800,000 bank branches

Millions of stores….

Public & Commercial

Buildings

195 Central Banks> 2,000 branches

Protecting Assets Securing Transactions Improving Productivity Increasing Efficiency …

Outsourcing

Outsourcing

Growth

ConsolidationAutomationGrowth Markets

24 April 2013, page 26

Gunnebo’s Strategy

Business focus Defined core business Customers & KAM

Global presence

Create growth Service Moving point of gravity

R & D

24 April 2013, page 27

Gunnebo’s Key Priorities 2013

Growth

Gross Margin Improvements

Fixed Cost Savings in Europe

SafePay

Hamilton Safe

24 April 2013, page 28

Financial Calendar

Interim report January-June July 17, 2013

Capital Market Day 2013 September 19, 2013

Interim report January-September October 24, 2013

Year-end release 2013 January 31, 2014

AGM 2014 April 10, 2014

Interim report January-March 2014 April 29, 2014

Financial Calendar

24 April 2013, page 29

Q&A

24 April 2013, page 30

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